Stamp Duty Land Tax Manual

Reliefs: Right to buy transactions, shared ownership leases etc: Notes to assist the completion of the SDLT1 land transaction return

These notes provide guidance on how to complete the land transaction return in various circumstances where notifiable transactions take place in connection with a shared ownership lease. Transactions other than those listed are not generally notifiable but if you are in any doubt about this please telephone the Stamp Taxes Helpline on 0300 200 3510.

Box 23: enter the Net Present Value (NPV) of the initial rent, measured over the full term of the lease

Box 24: enter the tax due on premium

Box 25: enter the tax due on the NPV

Staircasing transactions: no market value election: tenant acquires a share of the property in excess of 80%

These transactions will only be notifiable if the consideration given for the transaction exceeds the SDLT threshold. For this purpose these transactions are treated as linked to the grant of the lease or to any earlier staircasing transaction.

This transaction will be notifiable if the final payment exceeds £40,000, even if no tax is payable. For this purpose the transaction is treated as not linked to the grant of the lease or to any other staircasing transaction.

Box 2: enter code F

Box 9: leave blank

Box 10: enter the amount of the final payment

Box 13: enter “no”.

Box 14: enter the tax due on the amount shown in box 10.

Staircasing transactions: no market value election: tenant is granted a new lease on acquisition of the maximum leasehold interest available under the shared ownership lease